DXB IB to LDN PE
Hi monkeys,
How feasible is it to exit to MF/UMM PE in LDN after 2y of IB in DXB? Heard you get a lot more exposure in the region so should have good experience to show for in interviews. Or do you need to use MMPE as a steppingstone?
Would welcome any insights - thanks!
Hey there, fellow primate!
Transitioning from IB in DXB to MF/UMM PE in LDN can be a bit challenging, but it's not impossible. It's true that you might get more exposure in DXB, which could be beneficial during interviews. However, the PE scene in London is quite competitive, and most firms prefer candidates with experience in the local market.
Using MMPE as a stepping stone could be a good strategy. It can provide you with relevant experience and help you build a network in the PE industry. Plus, MMPE is more likely to give carry, have more responsibilities, and won't "kick you out" after 2-4 years, as mentioned in the WSO threads.
Remember, every path has its pros and cons. It's all about what fits your career goals and personal preferences. Good luck!
Sources: Is it dumb to exit to LMM PE rather than starting in bigger (MF/UMM) opportunities first?, Q&A: London BB IBD to top 3 PE, MM/UMM PE Analyst Exits
Literally impossible. Why on earth would a MF/UMM in London hire someone (a) based in a tier 2/3 market (this is the perception, sorry); (b) who has not worked on any European deals; (c) who they feel has much weaker technical skills (although not always the case, the perception is that 99% of the heavy lifting is done out London), when they have access to a HUGE pool of candidates literally on their doorstep who also speak multiple European languages (not just French)?
I was in a similar position and faced those perceptions. I know absolutely no person who has made such a move. In my opinion, it is hugely career limiting to be a sell-side banker in Dubai, but you do make good money.
Edit: MMPE will also be extremely difficult / borderline impossible, so do not view it as a "stepping stone". Even lateraling to a good sell-side bank will be very, very hard unless you do it internally.
Thanks a lot for the straight answer - appreciate it! A few follow-up questions
1 You mentioned you were in a similar position - how did you go about moving to PE?
2 Re making good money in DXB - is it only because of the lack of taxes or is comp meaningfully higher compared to IB in LDN, especially at VP and ED level?
3 What about "less desirable" teams at MFs, such as REPE/Secondaries?
4 Slightly unrelated, but since you appear to have good insight into DXB - how about exiting to a MM hedge fund in DXB after 2y in IB?
Thanks again, appreciate the response!
1. I worked in buyside in UAE and then did an MBA to transition out of the region. I cannot overstate how lucky I was to get out of sell-side there and land decent roles. Irony is I might go back now lol, but more on my terms.
2. Combination of tax impact and comp indexed to NYC over LDN
3. No chance
4. Unknown quantity for me - MMHF is entirely pod dependent and you'll have to diligence that hard. I know there's tons of noise about funds moving there, but how many pods / IP's will be there in reality? IDK. The thing is if you're a top performing PM (making multiple 7 figures) at one of these places, your kids are in school in London, etc., you really have very little incentive to move out there given you are rich AF anyway. Not sure though.
Comp in the UAE is very attractive but unless you have a guaranteed route back (you work for a firm that has stated, ideally in writing, that you can go back to their US/UK office), I would not do it until you have established yourself/your network in a Tier 1 market (NYC/SF/LDN).
Interesting, thanks! Would you be able to share some indicative numbers on ASO, VP and ED comp at EBs in the region? I'm interested in getting to a $4m NW ASAP, ideally in less than 15 years and don't think I'll ever spend more than $90k per year. Not sure if IB in DXB or MF/UMM PE in LDN supports this better. I'm already in the region but think can still get back to LDN IB if I move quickly and then try MFPE from there
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